IMF Demands Govt to Get Rid Of Loss-Making State-Owned Enterprises

The International Monetary Fund (IMF) has raised concerns about the growing financial losses of State-Owned Enterprises (SOEs) and urged the federal government to get rid of them, high-level sources told ProPakistani. Negotiations between the IMF and the Ministry of Finance are still ongoing at the policy level, and the lender is not happy with government-run institutions. IMF has demanded urgent steps to privatize these loss-making entities and requested a detailed, up-to-date report on their financial performance. Finance Ministry officials guaranteed to provide this report within two days. Sources further revealed that a central monitoring unit within the Finance Ministry is currently compiling a report on SOEs. It bears mentioning that losses of state-owned entities amounted to Rs. 1,400 billion in 2022 alone, and these losses are expected to increase in 2023, sources added.